Odaily Planet Daily reports that a new report from Tracxn indicates that 2024 will be a challenging year for Southeast Asia. Amidst a global economic slowdown, the region's tech ecosystem has experienced a sharp decline in funding inflows and significant shifts in market dynamics, while 'continuing to innovate and adapt to challenges.' In 2024 (year-to-date), Southeast Asian tech startups raised $2.84 billion in 420 rounds of funding, a 59% decrease compared to $7 billion in 2023 and an 80% decrease compared to $14.2 billion in 2022. Of this, Singapore accounted for nearly 67% of the total funding in the region, followed by Jakarta and Bangkok. Singapore's tech startups raised '1.9 billion dollars in 2024,' while those in Jakarta and Bangkok raised '276 million dollars and 261 million dollars respectively.' Despite the decline in investment, certain sectors within the Southeast Asian tech ecosystem have shown resilience and continue to attract investor interest. Among these, fintech ranks first on the funding leaderboard, 'raising 1.4 billion dollars in 2024,' followed by high-tech at 966 million dollars and enterprise applications at 764 million dollars. Additionally, emerging sectors like clean technology and blockchain show immense potential due to 'regulatory support and sustained investor interest, indicating growth potential in the coming years.' The report notes that despite facing challenges, the Southeast Asian tech ecosystem still demonstrates adaptability through 'ongoing investment, innovation, and government support.' The focus for 2025 will be on 'high-growth' areas such as fintech, clean technology, and blockchain, while leveraging 'policy frameworks and investor enthusiasm to navigate economic complexities.'